Ethiopia Establishes Itself as a New Force in Bitcoin Mining
The African nation of Ethiopia is making significant strides in the Bitcoin mining sector, despite the recent halving event in April 2024 that reduced block rewards from 6.25 to 3.125 BTC. With the next halving not due until March 30, 2028, countries like Ethiopia are seizing opportunities within this lucrative industry. The Ethiopian government has been proactive since legalizing Bitcoin mining in 2022 by expanding necessary infrastructure and leveraging its largest hydroelectric power plant for energy-intensive operations.
This strategic move has already paid off as Ethiopia generated $100 million through Bitcoin mining this year alone. This positions it alongside other nations such as Bhutan and Russia, who have also recognized the profitability of cryptocurrency mining as a viable economic venture (Source: FinanzNachrichten.de).
Ted Cruz: "I am Bullish on Bitcoin"
Texas Senator Ted Cruz recently expressed his bullish stance on Bitcoin during an interview where he highlighted Texas's emergence as a global hub for Bitcoin mining. He praised BTC for safeguarding privacy and providing independence from governmental control while cautioning against hasty regulatory measures given many Congress members' limited understanding of cryptocurrencies.
Cruz emphasized that most Democrats remain skeptical about Bitcoin; however, his party aims to unleash both digital currencies and small businesses more than ever before. As part of these developments, companies like Hive Digital relocated their headquarters to Texas, whereas Marathon Digital acquired an entire wind farm there—further solidifying Texas’s reputation as “a haven” for crypto activities (Source: BTC-ECHO).
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